About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

AI Startup BlueFlame Raises $5m for Alternative Markets Data Platform

Subscribe to our newsletter

BlueFlame AI, a start-up that harnesses artificial intelligence to help alternative market participants streamline their operational, regulatory and clerical processes, has raised US$5 million in a Series A funding round.

The cash injection, which will be used to further develop BlueFlame’s AI platform, raises the company’s value to $50m, the New York- and London-based company said.

BlueFlame’s platform enables private market clients to use generative AI and natural language processing to source deals and streamline communications. It can also accelerate the review and surfacing of insights from PDFs and other unstructured data sources, such as confidential information memoranda, when negotiating deals.

The company is among a number of data services providers to launch products designed to help limited and general partners better use data in the running of funds that draw about a third of all institutional investment capital.

“AI is now a ‘must-have’ tool that alternative investment managers recognise is critical to streamline their operations, improve efficiencies and help them deliver cutting-edge strategies,” said BlueFlame chief executive Raj Bakhru, who helped form the company last year. “The value AI can deliver is clear and our investors understand the challenges of bringing structured and unstructured data together through AI tools while meeting compliance, security, and regulatory requirements.”

According to a statement, BlueFlame was founded by former cybersecurity, financial technology and governance, risk and compliance specialists. It has a 20-strong workforce and serves clients that have “hundreds of billions” of dollars-worth of assets under management, including private equity, hedge fund and wealth managers.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Best practices for buy-side data management across structured and unstructured data

Date: 14 November 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Data management is central to asset management, but it can also be a challenge as firms face increased volumes of data, data complexity and the need to consolidate structured and unstructured data to gain valuable insights, improve decision-making, step...

BLOG

Encompass Plans Corporate Digital Identity Platform Following Acquisition of CoorpID and Blacksmith KYC

Encompass Corporation, a provider of real-time digital Know Your Customer (KYC) profiles, has acquired CoorpID and Blacksmith KYC from ING to develop a platform that solves the critical challenge of identification and verification of corporate and institutional clients. ING will be a stakeholder and development partner to Encompass and will use the platform in the...

EVENT

Data Management Summit New York City

Now in its 14th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Regulatory Data Handbook 2018/2019 – Sixth Edition

In a testament to the enduring popularity of the A-Team Regulatory Data Handbook, we are delighted to publish a sixth edition for 2018-19 of our comprehensive guide to all the regulations and rules that might impact data and data management at your institution. As in previous editions of the Regulatory Data Handbook, we have updated...